TMP Worldwide Lowers Outlook;
Online Recruiter Plans Job Cuts

NEW YORK -- TMP Worldwide Inc.'s net income rose 11% in the first quarter, even as revenue from commissions and fees tumbled 23% and the company again lowered its full-year projections.

The online recruitment concern also late Tuesday announced plans to consolidate 80 office locations and trim 525 jobs in a continued effort to streamline operations and cut costs. TMP said it expects to take a related pretax charge of $75 million in...